Quota System
5.1 Overview
The Quota System of VinuChain represents a pioneering innovation in the blockchain industry, with the original concept of a quota system being built on Vite Chain. Built around incentivized staking, the Quota System introduces a new paradigm for executing transactions that serves to accommodate the diverse needs of network users.
At its core, the Quota System on VinuChain operates on the premise of quota allocation for transactions. By staking a predefined minimum amount of the native token, VC participants in the network earn a daily quota that allows them to conduct transactions on the network without any incurred fees. This quota, computed based on several factors including the amount and duration of staking, is refreshed on a 24-hour cycle, offering stakeholders consistent access to transactional capabilities.
To safeguard against disproportionate quota allocation and maintain equitable network use, a maximum quota threshold is in place. This limit establishes an optimal balance between incentivizing substantial token staking and preventing an undue concentration of transactional power.
The standout feature of the Quota System is its cash-back mechanism. As stakeholders perform transactions, they are reimbursed the equivalent of the gas fees, effectively enabling feeless transactions. This reimbursement is facilitated through a calculated inflation of the native VC token, thereby sustainably financing the cash-back mechanism.
The Quota System, however, is not applicable for participants who choose not to stake or those who stake but do not meet the minimum threshold. These users can still interact with the VinuChain network through standard transactions that come with regular fees. These fees are dynamically determined based on factors such as network congestion and overall usage. This ensures that all users benefit from VinuChain's high-speed, scalable architecture without prohibitive costs.
The Quota System is particularly advantageous for implementing efficient micro-transactions, a facet often overlooked in traditional blockchain networks due to the hefty transaction fees. Businesses and applications can seamlessly integrate micro-transaction models into their systems with the Quota System, delivering greater value to their users.
5.2 Mechanism of Gas Refund
The backend calculates what cash-back a user with a quota should receive per day (00:00 am to 23:59 pm UTC). At 01:00 am, the airdrop starts, where the gas price is returned to each user in accordance with the calculation that will be presented below.
EOA (Externally Owned Address) is an Ether address owned by a pair of keys, in contrast to the Smart Contract Address, which is controlled by a code deployed on the blockchain (wallet).
Quota is a cumulative cap that each EOA has, depending on the number of tokens staked by an address, the activity of the address on the network, and the overall network load.
5.3 Zero Gas Fee
Zero gas fee will be available in the following way:
For each transaction calculate cash-back for the quota of the transaction's sender address (from), but no more than gasUsed.
Remove the quota used in the previous step from the address. Make it so that for the next transaction of this address of this and subsequent blocks, the available quota decreases (ignoring the increase in quota that occurs every block - in fact, if the transaction is small enough, the available quota may not change or increase).
The airdrop system will return cash-back to users for the used gas in accordance with the quota.
5.4 Theory
The EOA quota for i-block is calculated via formula:
Qi(gi, i)=M(1-21+eLi(gi) i ),
Where:
gi – avg. quota for per block used on the network by all addresses in blocks: [i-75, i-1]
i – the number of tokens staked by this address in i-block
Li(gi) – network load parameter in the i-block
M = 1000000
= 3.13478991*10^(-22)
The network load parameter is calculated as:
To get the current quota balance for an address need:
Q(i)=(j=i-74iQj) - (j=i-74iUj),
Where Uj – quota, used by this address in the j-block.
Using the data collected above, it is elementary to calculate Q(i) addresses in some block i.
The available quota of an account depends on UTPS and quota consumption during the last 74 snapshot blocks. For example, Account A receives 1 UTPS quota through staking, no transaction occurs during the last 74 snapshot blocks, in this case, the available quota of Account A is 75 UT.
UTPS: Unit transactions per second, referring to the number of unit transactions that an account can send in one second.
UTPS=Qi/21000
UTPE: Unit transactions per epoch, referring to the number of unit transactions that an account can send in 75 snapshot blocks.
UTPE=UTPS×75
The available quota of an account depends on UTPS and quota consumption during the last 74 snapshot blocks. For example, Account A receives 1 UTPS quota through staking, no transaction occurs during the last 74 snapshot blocks, in this case, the available quota of Account A is 75 UT.
5.5 Quota Cap
For a single transaction, the maximum quota that can be consumed is defined as 47.62 UT.
For convenience in calculation, it is practical to calculate value of (ξi×ρ) and then map the result to quota according to the following table:
Li(gi) in the quota calculation formula is specifically for this purpose.
The following table shows the minimum required staking amount for sending a transfer transaction without comment under different congestion situation:
5.6 Quota Consumption Rules
The following table lists quota consumption of common transactions:
In addition, each character in the comment field of a transaction consumes 68 quota.
For example, sending a transfer transaction with comment of '0x0001' (two hexadecimal characters) will consume Q=21000+68∗2=21136 quota, which translates to 1.0065 UT
5.7 Airdrop for Cashback
Decentralized airdrop integrated into the node of the blockchain network. The airdrop system will return cashback to users for the used gas in accordance with the quota. A contract with the ability to mint a token is deployed to the genesis file. This file is called only by the blockchain when airdropping tokens for gas cashback for transactions.
5.8 Staking
The user has the opportunity to stake their VC tokens on the corresponding page. When staking, the user doesn’t receive a reward, but increases his quota (i) for the return of commissions.
In conclusion, VinuChain's Quota System marks a significant leap forward in the redefinition of user engagement with blockchain networks. By catering to both stakers and non-stakers in its unique transaction model, the system promotes broader adoption and diverse application of blockchain technology. The upcoming sections will delve deeper into VinuChain's architecture, the foundational workings of the Quota System, and the future roadmap for this promising platform.
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